A method for controlling temperature of a switching device of a power converter of an electrical power system includes monitoring, via one or more sensors, at least one operating condition of the electrical power system. Further, the method includes monitoring a temperature of the switching device. Moreover, the method includes controlling, via a control system communicatively coupled to the one or more sensors, torque of a generator of the electrical power system based on the at least one operating condition of the electrical power system so as maintain the temperature of the switching device below a predetermined threshold.